Flexible Drawdown Declaration. Bank of Scotland Share Dealing Self Invested Personal Pension

Transcription

1 Flexible Drawdown Declaration Bank of Scotland Share Dealing Self Invested Personal Pension

2 Flexible Drawdown Declaration Important Notes THIS DECLARATION MUST BE COMPLETED TO DECLARE YOURSELF ELIGIBLE TO RECEIVE FLEXIBLE DRAWDOWN PENSION BENEFITS. IF YOU WISH TO TAKE A PENSION COMMENCEMENT LUMP SUM AND MOVE SOME OR ALL OF THE BENEFITS HELD IN YOUR SIPP INTO DRAWDOWN PENSION (CAPPED DRAWDOWN) OR FLEXIBLE DRAWDOWN, YOU MUST ALSO COMPLETE A BENEFIT FORM. IF YOU HAVE PREVIOUSLY SUBMITTED A FLEXIBLE DRAWDOWN DECLARATION TO US, YOU DO NOT NEED TO DO SO AGAIN. Flexible drawdown allows individuals to draw any amount from their income drawdown fund without any annual limits. Benefits paid under flexible drawdown are taxed as pension income. In order to access flexible drawdown it is a legislative requirement that you must provide ALL of the information requested in this form and complete the declaration. If you fail to complete all of the information on the form it will delay your access to flexible drawdown. If you are taking a Pension Commencement Lump Sum and moving funds into drawdown at the same time as declaring yourself eligible for flexible drawdown you must also complete our Benefit Form. If you are already drawing flexible drawdown benefits from your SIPP and wish to alter the frequency or amount of pension you are receiving, or you wish to receive a one-off pension payment, please write to us separately confirming the details. For more information on the benefits available from your SIPP, please refer to the Benefits Guide available on our website. If you have any doubts regarding your options you should contact a suitably qualified financial adviser. Once you have completed this declaration, please return it to: The Bank of Scotland Share Dealing SIPP Administration Team AJ Bell Management Limited Trafford House Chester Road Manchester M32 0RS Tel: Fax: Please use BLOCK CAPITALS only and blue or black ink. If you would like a copy of this or any other item of our other literature in large print, Braille or in audio format, please contact us on or by bossipp@sippdeal.co.uk. Please note that failure to complete all of the following information will delay your access to flexible drawdown.

3 Personal Information Title Mr / Mrs / Miss / Ms / Dr / Professor / Other Surname Forenames Permanent Residential Address Nat. Ins. No Your SIPP Reference Your Secure Pension Income In order to qualify for flexible drawdown, you must meet a Minimum Income Requirement of at least 12,000 per annum from relevant pension income. Income qualifies as relevant if it is paid from: A lifetime annuity paid from a registered pension scheme (see note 1); A scheme pension paid from certain registered pension schemes (see note 2); A social security pension provided by the state; Payments under the Financial Assistance Scheme which are payable until your death; Payments from overseas pension schemes or social security pension that are substantially similar in characteristics to any of the above three options. Note: 1. Annuity payments will only qualify to the extent that the income is guaranteed to be paid for your lifetime, or is subject to changes in accordance with the Retail Prices Index. Any other non - guaranteed annuity income will not qualify for the Minimum Income Requirement. 2. Scheme pension payments will only qualify where made from a registered pension scheme containing at least 20 pensioner members. Please confirm the following information and attach evidence in writing for each source of income comprising your Minimum Income Requirement. Evidence of income attached Yes No Evidence of income attached Yes No

4 Your Secure Pension Income cont. Evidence of income attached Yes No Evidence of income attached Yes No Member s Declaration I declare that I am eligible to receive payments from my registered pension scheme(s) under flexible drawdown and that: 1. The aggregate amount of relevant pension income payable for the tax year in which I make this declaration is at least 12,000; 2. No relevant contributions have been paid or will be paid by me, or on my behalf, to any registered pension scheme or relevant non-uk scheme in the tax year in which this declaration is made; 3. At the time this declaration is made I am not an active member of any registered pension scheme or relevant non- UK scheme under which there is a defined benefits or cash balance arrangement; and 4. Where I have previously made a statement that I meet the flexible drawdown conditions I confirm that this was accepted by the scheme administrator. I confirm that this declaration is correct and complete to the best of my knowledge and belief and that the flexible drawdown conditions as set out above are met. Further I confirm that this declaration applies to all arrangements held in my name and for which AJ Bell Management Limited acts as scheme administrator. Name Signature Date

5 AJ Bell Management Limited is the Scheme Administrator of the Bank of Scotland Share Dealing SIPP. AJ Bell Management Limited is registered in England No Registered Office: Trafford House, Chester Road, Manchester M32 0RS. Authorised and regulated by the Financial Conduct Authority and on the FCA register under FCA register number Sippdeal Trustees Limited is a wholly owned subsidiary of AJ Bell Management Limited, registered in England No Registered Office: Trafford House, Chester Road, Manchester, M32 0RS. Sippdeal Trustees Limited does not conduct any regulated activities, and is, therefore, not regulated. Dealing and stock broking administration services are provided by the Bank of Scotland Share Dealing Service which is operated by Halifax Share Dealing Limited. Halifax Share Dealing Limited. Registered in England and Wales no Registered Office: Trinity Road, Halifax, West Yorkshire, HX1 2RG. Authorised and regulated by the Financial Conduct Authority, 25 The North Colonnade, Canary Wharf, London, E14 5HS under registration number A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.

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